Steadright arranges $2.5-million private placement

Executive Summary

• Steadright Critical Minerals Inc. has arranged a non-brokered private placement offering of units for gross proceeds of up to $2.5 million.
• The company will issue up to 10 million units at a price of 25 cents per unit, with each unit consisting of one common share and one common share purchase warrant.
• Proceeds are designated for general working capital and corporate purposes, with the offering potentially closing in tranches subject to regulatory approvals.

Key Details

• Gross Proceeds: Up to $2,500,000.
• Unit Price: 25 cents per unit.
• Quantity: Up to 10,000,000 units.
• Warrant Terms: Each unit includes one common share purchase warrant. Each warrant entitles the holder to purchase one additional common share at an exercise price of 31 cents per warrant.
• Warrant Expiry: 24 months following the closing date.
• Use of Proceeds: General working capital and corporate purposes.
• Closing Structure: The private placement may close in tranches.
• Statutory Hold: All securities are subject to a statutory hold period of four months and one day from the date of issuance.
• Regulatory Status: Subject to regulatory approvals, including approval from the Canadian Securities Exchange.
• Finder’s Fees: The company may pay finders' fees to eligible parties in accordance with applicable securities laws and CSE policies.

Notable Quotes

• Matt Lewis, CEO: "The new website and February presentation deck can be found at www.steadright.ca. Please give them both a good look."
• Matt Lewis, CEO: "I will be at the Prospectors and Developers Association Convention (PDAC) for its duration, and will be doing meetings close by with shareholders and other interested parties. If you'd like to meet, please get in contact, and I look forward to our chat."